BUYING RESIDENTIAL PROPERTY

BUYING RESIDENTIAL PROPERTY

You must seek legal advice specific to your purchase and never commit to an agreement unless you have obtained that legal advice.

Speak with your financier or your Finance Consultant to arrange the best loan to suit your needs. Prepare a shortlist of preferred suburbs that suit your lifestyle, bearing in mind affordability and accommodation requirements. Research sales in those preferred suburbs. Inspect every property in your preferred suburb so you have a feel for the prices. Attend all open homes in the area.

Develop a relationship with one of our professional team who specialise in your preferred area. Your Centex Property Real Estate Sales Consultant will be able to advise you of any additional information you may need and also inform you how you can register on our website to automatically receive notification of any new listings that hit the market.

When you find a property that suits your requirements, ask your agent to send a copy of the sale contract to your solicitor or conveyancer. If you are considering making an offer, we recommend that you contact your Centex Property Real Estate Sales Consultant promptly who can guide you if you are in any way unsure of the process.

Your solicitor can arrange a building inspection to make sure you are aware of any possible major defects. Following your solicitors or conveyancer's advice on the sale contract and taking into consideration the building reports, you are now able to make an informed decision to proceed with the purchase of the property.

Once negotiations have been finalised, you will be required to sign the sale contract and pay a 10% deposit. Your deposit will be held in a trust account until settlement. At settlement, contracts will then be unconditionally exchanged.

On settlement day it is advisable that you do a final inspection before settlement takes place. This is to ensure that the property is in the same condition as when you last inspected it, and that all inclusions are as per the contract you signed.

WHAT IS A PROPERTY CONDITION REPORT

This is a report that is compiled at the commencement of a tenancy prior to your tenant moving into the property. This report outlines the condition of the property at the commencement of the tenancy and is used when the tenant vacates to ensure that the property is left in the same condition. This is the last inspection carried out as soon as possible after the end of a tenancy, when the tenants have returned their keys. The Property Condition Report is used at this inspection and each item is checked off to make certain that the property is in the same condition as when the tenant took possession.

It is at this inspection that any items that need to be rectified by the tenant are identified.

ROUTINE INSPECTION

Routine inspections are conducted after a tenant takes possession of the property and are conducted every four months. These inspections ensure that your property is being maintained to an acceptable standard and to identify any maintenance that may be required. A copy of the routine inspection report is forwarded to you after each inspection and should it be necessary, a member of the Centex Property Real Estate Property Management Team will contact you to discuss items noted on the report.

IF A TENANT STOPS PAYING RENT?

When a tenant falls behind in their rental payments they are issued with a notice of breach advising them that they are behind and requesting that they rectify the problem. If this is not done within the stipulated time period then a termination notice is issued requiring that they vacate the premises.

REFINE SEARCH


QUICK SEARCH


RECENT POSTS

CENTEX PROPERTY. COPYRIGHT 2017